Smart Microgrid Controller Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Smart Microgrid Controller Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Smart Microgrid Controller Market is expected to register a CAGR of approximately 12.5% during the forecast period (2021 - 2026). Trends pertaining to Digitization, Decentralization, and Electrification are leading to a paradigm shift in the energy landscape.

Key Highlights

• An integrated smart microgrid controller cost-effectively maintains grid stability and operational resiliency. A smart microgrid controller automates all microgrid components' control to satisfy power demand and maintain stable operating conditions with minimal operational staffing and intervention from human resources.
• According to an estimate by the International Energy Agency, 42% of new energy generation capacity additions should be generated from microgrids to achieve the United Nations Sustainable Development goal of 100% energy access by 2030.
• A controller software maximizes electric reliability, integrate renewables, or reduce emissions. In April 2020, HOMER Energy, by UL recently released, introduced two powerful, customizable Controller APIs, which enable the users to create and simulate their dispatch strategy in HOMER Grid software for modeling the design of behind-the-meter distributed energy systems.

Key Market TrendsGrid Connected Segment Expected to Exhibit Significant Share

• The grid-connected smart microgrid controller is a connected grid network, which is installed to provide energy in accordance with the requirements of the corresponding end-user. The micro sources are able to act as a current source with maximum power transfer capability to the grid. The majority of house owners and small-sized enterprises prefer the grid-connected microgrid controller, owing to its cost-efficient feature, to cater to their respective power requirements.
• Panasonic launched an urban microgrid, hybrid Energy Storage Systems (ESS) with end to end solutions for the Indian market. The integrated solar power microgrids incorporated features, such as efficient, reliable, and intelligent power storage solutions to fuel adoption in the urban residential and commercial areas. The solution allows grid interaction, remote monitoring, and data analytics and optimizing energy usage.
• Also, in September 2019, SimpliPhi Power, an energy storage system maker, collaborated with Heila Technologies on a distributed, scalable smart microgrid that combines power from homes into a virtual power plant. Heila Technologies is a developer of software and hardware that integrates diverse generation and storage assets into microgrids, to deliver a dynamic platform that aggregates multiple customer-cited SimpliPhi battery systems into a virtual power plant.

North America Expected to Dominate the Market

• North America region is expected to dominate the Microgrid Controller Market owing to the rise in the adoption of renewable energy and distributed generation systems. Sustainable microgrids are emerging as a vital tool, across the United States, to combat climate change and increasing instances of natural disasters, such as earthquakes, hurricanes, wildfires, and many more.
• Microgrid controllers are increasing in adoption as the traditional energy grid struggle to provide uninterrupted power flow, which causes outages, and subsequently slows down the economies.
• Moreover, the aging infrastructure of the traditional energy grids requires major overhauls; thus, the United States Environmental Policy Agency imposed unprecedented greenhouse gas regulation, which is further expected to stimulate the adoption of integrated renewable energy microgrid controllers in the region.
• In October 2019, Schneider Electric and Excellerate jointly launched the Xcape by Excellerate Energy Microgrid. Xcape is an agile microgrid solution designed for quick deployment and installation, helping deliver power when needed in even the most remote locations. Excellerate is an innovator of manufactured electrical components and assemblies.

Competitive Landscape

The competitive landscape of the Smart Microgrid Controller Market is moderately fragmented owing to the presence of several market players across the globe. The market players are making innovations in the market to expand its market presence. Also, the market players are forming strategic partnerships and collaborations to boost their market share.

• November 2019 - Siemens partnered with the German renewable energy developer Juwi to jointly provide microgrids in the mining industry. They are developing an advanced microgrid control system that enables the seamless integration of renewable electricity to a mine’s off-grid power supply. The development of the control system is expected to help simplify the use of renewable energy for mines and help provide a cost-effective and reliable power supply, especially for mine sites that operate off the grid.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Schweitzer Engineering Laboratories
Schneider Electric SE
Opus One Solutions Inc.
Encorp Inc.
Siemens AG
S&C Electric Company
PowerSecure Inc.
Spirae LLC
Emerson Automation Solutions
CleanSpark Inc.
Eaton Corporation
General Electric Company

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